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.5% of the annual deficit. it is a flyspeck. gerri: don't think it has been so busy, the new york delegation, saying that it will affect 90% of people in metropolitan areas? >> if you're not paying a next year, thank the new york delegation. they are the ones leaving it. gerri: big news, gm by 40% stake in the company. >> castillo is about $50 billion. the prices of stock have to get up to $69, it's down around 24 right now. i'm not going to hold my breath on that one. but i think that gm understood that it had to do something. because its own internal polling and focus groups suggest there was a stigma -- as public attached a stigma that they had taken this public money, which is very interesting to me. it may have helped rocco, when michigan and ohio, but it didn't help gm. >> gm is giving the stock at a bargain. the ipo is $10 more per share. the one that's just terrible. >> i think that the government should get out of this quickly as possible. obviously you want to do it in an orderly fashion. the were never going to happen again. who president of the government actually taking over, taking a c
their fights over wages to mcdonald's in new york city. from mickey d's to wal-mart to one of our nation's busiest airports to key shipping ports. big labor is flexing its big muscles after the election and gary b, you say it's a big problem for us, the consumers, how so? >> absolutely, brenda, look, everyone should realize what unions are, unions are a little monopoly in the company and exercising the the monopoly powers, raise the rates and this days the wages for their employees through an unsustainable level. so what the employees have to do is pass those costs on to the consumer. you know, you just have to ask, brenda, where have unions made an industry more competitive? i can think of examples where they haven't, airlines, steel, auto, across the board, governments they put out of business, if even can argue they've made it more competitive. i'd stand upor unions and i can't find an example. >> prices have ge up in all of those industries and you say, fast foods, too cheap? >> yeah, i mean, i'll tell you what, i don't actually believe that we'll see unions at the fast food restaura
a few years and a narrow casting example. but the new york city subway used to have posters written in spanish advertising a gay, lesbian domestic violence hot line. that's how fine grained it get in new york new york city on the subway pushi welfare programs. it informs and pushes them. >> but getting back to the porty program and they're pushing food stamps and welfare programs and they have a tendency to keep poor people poor. once you are on the dole it is hard tore get off. >> it is. incentives arerong. they encourage people to stay on it. it is it a growth crisis. economic growth is easy and if we get the policies right, a lot of these people get off of it and i agree with victoria that we have a welfare industrial complex. and in ordero keep these people on foodtamps, we got to -- >> and creating a sense of depeppedency from fdr and bill clinton and senators . this is not just republicans and conservatives. >> that is it a valid. if you want to reform welfare to resolve the problems that you are raising. they are valid problems . we will not mix it up b condemning people who
of companies, foreign companies listing in new york is down. people don't want to list new york with all this uncertainty and regulations. ipos are down, small business start-ups are down. so the president needs to level with the american people a tremendously insurmountable entitlement problem unless we do something structural. that is what he should be doing, and that is what it's all about. right now it's all about taxes. gerri: no one is doing that right now. a last word here. everybody wants to have something bigger done. it doesn't seem possible right now. do you think ultimately congress and the white house will find some common ground? >> i think they will. they always do. again, one of our other guests has talked to me about that churchill "which is america has this inevitable way of doing the right thing. how this we will do something right. gerri: very good point. thank you so much. thank you for coming on tonight. appreciate your time. have a great holiday. still to come, reaction to the takeover of the nyse, and a huge highest involving one of the world's most valuable commo
of indiana are what you'll see in pennsylvania, upstate new york and new england through the overnight hours and also as we head into tomorrow. the storm system very powerful and bringing a punch. the good news as far as tornadoes is the threat is starting to diminish. we had a tornado watch still in effect until 5:00 p.m. eastern in extreme eastern north carolina and south carolina but it's winding down. snow in indiana winding down. we had blizzard warnings in effect. they've expired but the one across ohio here are very much in effect. we have strong win gusting to 30, 40 miles an hour producing whiteouts. not recommended that you're on the roads right now and of urse a blizzard warning in effect across northern parts of the state. the pink shading are winter storm warnings in effect across the state of ohio and all across portions of the northeast. you can see the whiteouts in cleveland where easily we could see over a foot of snow in that city and that's going to be the story in pennsylvania, upstate new york and portions of new england. if you live along the coast, new york city could
of the merger. i was hearing it was a full out acquisition, the new york stock exchange getting bought by the intercontinental exchange and that blew me away. it is an amazing story. we fight for seconds here. going on the air, basically saying at the new york stock exchange about the taken over, this is not a merger of equalss, this is a takeover of the most venerable, one of the most venerable institutions in american finance, the new york stock exchange. it is been there since the old button agreement. [talking over each other] charlie: that is why they call it -- they became essentially a club of freighters under that and expanded to much bigger than a tree, beautiful headquarters, but here is the thing. when i started to digest it it was a phenomenal story. the intercontinental exchange was created only 12 years ago by jeff springer, a longtime executive in the energy industry. people don't realize energy is a commodity, commodities are traded in exchanges locking in costs. he came up with a system to forget about the pits of chicago where people ice-cream at each other or new yor
latest, but his listening in. time for the floor show. traders of the new york stock exchange, cme group, and the nymex. a teeny little stumble after the comments from harry reid, but are you surprised by the resiliency of this rally with volume 30 percent better than friday? >> not so surprised. for a while now, for the last week when it comes to the the stock of negotiations, this the inside game and the outside game it's playing out precisely how we thought it would. they get in front of the cameras and try to put dampening remarks on, than they eat -- we got information. what's really interesting, it's very broadbased. this is not a head fake for the bigger averages. if you look at the small-cap stocks, the iww, i wm, they're rallying along with this. treasuries are selling off. money is clearly written into equities. the fiscal cliff sectors that would be here -- heard are really rallying. materials and financials are ll moving nicely hired, and the financials are moving higher because the yield curve is starting to steepen. liz: let me get to dan at the cme. you have a strange man
and every 15 minutes. nicole petallides at the new york stock exchange. hey nicole. nicole: i look forward to hearing more about that particular story as i watch the stock market here, i do see the dow is down about 1/3 of 1%. majority of the dow components are lower. it is december 24th. there are kids running around here. it's a very random day on wall street. the traders will get together and sing the traditional song which represents hope back in the early 1900s. some names are weighing heavily here on the major averages. a couple names squeezing out gains like alcoa and home depot. let's take a look at the retailer jc penney. you do see it doing particularly well here. oppenheimer has talked about the fact that there's traffic. there's people going into the stores. they are doing a lot of promotions over at jc penney, and that's actually helping them out. a lot of kids here today, obviously, on a day where we're waiting for the big holiday. all right. there you go, merry christmas everybody. dagen: thank you, nicole. dennis: president obama and house speaker boehner have not spoken si
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, that was interesting. new york values went up as well. lori: markets are scattered. that is a debate over what the fines wealth in america, cost of living, property values, you can't have one single threshold the works across the board because -- lori: bringing it back to taxes. melissa: i love it. lori: and $8 billion deal, what does it mean for the future of trading? charlie gasparino will be along with exclusive details. melissa: look at how the dollar is fairing, the market up slightly and with that, currencies are weaker across the board. we will be right back. melissa: we want to take you to capitol hill, john boehner. >> the president called on the house again and again to pass a bill to protect 98% of the american people from a tax hike. today we will do better than that. our bill will protect 99.81% of the american people from an increase in taxes. it is permanent tax relief for individuals. a permanent hatch on the alternative minimum tax, the marriage penalty, death tax relief and permanent extension of higher child tax credit and capital gains and dividends rates we see today. all
dropping to its three month low. very mild. looking at behind me in new york. what are we missing as a play, an investment like? are we in that very land and? >> we've been calling for lower natural gas. most of the profit is best. the sale at 380-385. right now it's an oversold market. 327 is the low. we hit it today anywhere between 327 and 330 i'm buying. and on the upside 342-345. i don't think we will see it again this year. liz: never again. >> okay. never again. liz: the collective commodities, the dollar, what the fed did. that seems like a million dollars to 5 million miles away. but in these next two weeks from a trader perspective. people just at the way or are they fully in because we don't have an answer? >> there will not be fully in. what we have right now, an argument between deflation and inflation. the numbers coming through, especially today. the fed is pumping action of billions of dollars in the market every month. the same time they're staying low or longer or slower longer which is an inflationary message . liz: again, people still look at that as a safety play, and i
and seen he was right. back to you in new york. >> peter, before you go there was a report by another media outlet in the 10:00 hour last night that they were calling the parents in to identify the bodies of their children. have you heard that? >> the reports we have heard are that the police set up a makeshift morgue inside the school and they photographed all of the children around they were showing the parents photographs of their children to identify them. >> okay. >> they want to reconstruct what happened and it's a pain staking process. they are only going to have one shot at it to find out what took place. who is the suspect? >> he did it. he is the shooter. >> he is adam lanza. he is 20-years old. we do know this, it seems he is thought to be by neighbors by family members either mildly autistic or a little bit some what off they say. according to one of his former classmates and who happens to be a neighbor timothy dalton, as horrible as this was, i can't say i am surprised. burn in hell adam. >> and yet there are lots of conflicting reports at this point about who he is. his broth
have traders on the new york stock exchange, the cme group, and the imex. we start with crude, perhaps iraq scaling down its production. we got iran doing their naval exercises again, and perhaps a little bit of optimism that washington will finally get it done, but either way, look at it, hoil of to the upside. >> yeah, i think all the reasons mentioned are partly why we're up higher today. i also think this is just a technical rally. we broke out above key resistance levels. i think we can trade up to 92 #.09, the next level up. there's a report of a terrorist threat thwarted in united arab emirates, and we have early indications inter next crude oil number is a draw. bullish as well. ashlie williams thank -- ashley: thank you. firstly, doreen, what happened? well, we are negative again, but wiped most of the losses on the day on a very quiet day. >> very, vie quiet. as you pointed out, ashley, retailers what everybody's looking at because it's a predicter and indication of how consumers feel, and gdp in 2013, you know, consumers are 70% of the number, and it doesn't really, the numb
school is the highest paid in the country. that is right here in new york city at more than $3 million. >>> national hockey league is canceling its regular season through december 30th, i know, due to lack of collective bargaining agreement. 526 games, more than 40% of the season has been canceled. that unfortunately is that [buzzer] that is end of today's speed read. liz: it is disgusting. it is horrifying. we don't seem to be any closer to a resolution on the fiscal cliff even though many are warning that the economy could face dire consequences if there is no agreement but one strategist says, why are you worrying about december 31st? that deadline isn't even the real fiscal cliff. david: that strategist is none other than peter schiff, ceo of europacific precious metals. friend of the show. peter, although i wish it was under better circumstances. you say the real cliff coming is bigger han the housing mess, bigger than the housing crisis we went through. it's the bond mess. specifically when the fed stops printing money to buy up treasurys all hell will break loose, right? >> wel
with is that the new york stock exchange cme group. john cortina, what was it like last night? how closely we want to mess with the stock futures dropping precipitously. it's not as bad as it could've been, is that right? >> yes, it's amazing what twitter can provide for you for information. i was at my child's recital and might twitter feed was going on. clearly, we saw a lot about last what happens overnight is that there's not a lot of volume or liquidity. you're going to see that shipped. the volatility in the market. especially that we saw with the s&p. if things like this find a way, i think that's healthy for the market. it's to showing it that yes, we were able to react to it. we put it all together. it seems like the market down its place. big panic isn't there yet. i think what happened on washington is when the republicans said, listen, here's where we're at right now. they were expecting a the sap in the market. now they can say, we told you it was going to happen. look at how the market reacted. clearly, i think we have a match going back and forth. the effectiveness on the market is
jobs. top of the hour. time now for stocks. nicole petallides on the floor of the new york stock exchange. nicole: we are down about 72 points. the vix, the fear index, has an up arrow today. commodities are pulling back a little bit. i want to take a look at a name that is on the move. it is deckers. you may not necessarily know that you know what it is all about. you know uggs. it turns out they are quite popular. while that chatter has been around, they will give decker a pop. >> could merge with timberland. we will be back at you in 15 minutes. for the first time in nearly 40 years, between christmas and new year's, it comes as lawmakers continue to scramble to get a fiscal cliff deal done. rich edson has the latest. rich: they are considering legislation here in the senate today. president obama says he called to talk to congressional leaders, democrats and republicans, last evening. there is no progress here to report. president obama put it all on the house. >> they are operating without the house of representatives. it is being operated with a dictatorship of the speaker,
about what you put into your gas tank. let's get up to speed, back the floor of the new york stock exchange and nicole petallides. economic data on the service industry. nicole: looking good, lori and melissa. up 125 points. after two days of selling we are seeing some market action to the upside. we are above the 13,000 mark, well above that. 13,076. the nasdaq squeezing it out. concern for apple, but financials are doing well. let's take a look at the group. laying off 11,000 workers, that is the plan. a new ceo in place and he wants to make his mark. up 6.5%. it is under pressure, nowhere near $700 for the all-time high in september. the latest findings other actually going to use the market share for the ipad to the android in some microsoft folks, they're facing intense competition. with the findings you see stocks down 4%. back to you. melissa: interesting. lori: thank you. melissa: a battle for a deal inn the fiscal cliff continues, democrats cannot seem to find a compromise on top earners. rich edson is back in the white house with more. >> president obama said look, if rep
. let's go to the floor of the new york stock exchange. the market having a good day today. nicole: indeed. we have been over the 13,300 mark but still holding onto stellar games, lori and melissa. so up triple digits up 110 points so really is a nice showing. 28 of the 30 dow components in the green. we heard from house speaker john boehner. the overall sentiment after he spoke is a few negative pieces of language in his speech that ultimately in the end he was trying to say they're trying to work it out. smooth it over, ultimately. they know a couple of trends we are seeing, technology, materiall, two areas coming under pressure recently starting to turn. europe seeing improvement helping equities along as well. lori: not sure if you mentioned the fed. we were talking about it at the top. talking about their expectations of ben bernanke. nicole: would even throw out the idea of stimulus? that helped things along pushing us along throughout this entire last six months. lori: absolutely. thank you so much, nicole petallides on the floor of the new york stock exchange. protests turn
was ousted. joining us now, colonel oliver north, military analyst,t host f "war stories, "the new york times" best seller, heroes proved and great to have you withr us. congratulations on the new book. i want to get to that in just a moment.o ge i want to get your reaction to what we are watching take place at the presidential palace in egypt. >> the good news is there are 100,000 people lefte in egypt that once the protest of aship dictatorship of sharia. that is what we will see them backing morsi and the regina. number two, to get crushed, the bad n news is they will suppres. this rebellion, they will suppress it with the help of police and the muslim brotherhood thugs trying to make sure at the end of the day them christian movement that used to exist, the church is no longer to be reckonedr with. the secular muslims no longern have a role to play in this governmentrn and that comes down to our disadvantage because we're helping to fund this government and our only real ally in that part of the world, israel. lou: the reason we continue to fund this government, to continue the policies o
images out of indiana will be across pennsylvania and upstate new york and into new englandino throughout the overnight hours and also heading into tomorrow so storm system still very powerful and still bringing quite a punch. thego good news for tornadoes, e threat is getting diminished. we hate me to watch in effect, still in effect until 5:00 p.m. eastern time across northeastern carolina and south carolina butu that threat is winding down. blizzard warnings in effect, those have been allowed tohere expire, a blizzard warning out here still very much in effect, very strongds wind gusting 30, 40 miles per hour perusing whiteout conditions on the roadway. not recommended you are on the road is right now. blizzard warning across the northern part of the state, the winter storm warning in effect across the state of ohio and all across portions of the northea northeast, the whiteout conditions in o cleveland with over a foot of snow in that city will be the story again in pennsylvania, upstate new york and new england. along the coast could see a slushy coating, but not as bad, just an inch
to the floor of the new york stock exchange. nicole petallides standing there. we are looking to end the week which way. >> reporter: let's see. right now at 13,161, ever so slightly in positive territory. when you look at the markets, keep an eye on 13,155. that is where we ended last friday. we have been up four straight weeks several. the dow has been trending to the upside. when you talk to traders on wall street a continue to think that the rally is in place. the dow, s&p, and nasdaq gaining 45%. these last four weeks. "we are obviously looking good. you are seeing some of the names on the move here. for example, the fear indexes to the upside. names like alcoa, cisco, caterpillar, hewlett-packard are helping the dow along trying to keep the names that are helping. the weighing on the dow would be some of the stocks such as american express, merck, and exxon mobile. adam: we will check in again with you and roughly 15 minutes. thank you very much. lori: congress of for the weekend, it's not likely in the fiscal cliff face-to-face negotiating will happen. the fiscal cliff deal, will we se
tomorrow. there is talk now that that may not happen. time to head down to the new york stock exchange with nicole petallides. nicole: merry christmas to everybody. the vix, the fear index, has been to the upside. whether or not washington will solve the worries about the so-called fiscal cliff approaching quickly. here is a look at the dow. 13,100 even. most of the dow components are under pressure. hewlett-packard doing well and bank of america in the financial round. it really is being laid upon by the retailers. i no adam shapiro will add on to that. there is a look at some movers. michael cores down over 6%. tracy: i was in the balls this weekend. lori: crowded theater not like i thought it would be. adam shapiro in the newsroom with the details. i thought it was way busier last year than it was this weekend. >> no. here are some numbers. for the period of october to eight and december 24, sales grew. in 2011, sales for that period of time grew 2%. they are using that as an indicator that things will not be as good as we thought going into the holiday shopping season. on monday, s
of agriculture decision to cut the greens demand forecast. fact activity in new york state declining for the fifth month in a row in december as new orders dropped in the labor market remains weak. the new york fed empire state index falling into negative 8.1 from negative 5.2 in november. liz: we have larry in the pits of the chicago mercantile exchange. he will let us know about the clothes. the fiscal deal is coming. they will find out in a second, and says the market is heavily discounted and at historic levels. should you jump in? a 100-point gain on the dow jones industrial a full percentage point for the russell and the s&p and the nasdaq rather. this is a great day, isn't it? >> a good day, that is for sure. kind of took an informal poll on the floor ask a few traders are we going to reach the fiscal cliff, are we going over it? certainly most traders were not in agreement. everyone is in agreement we're not going to go over the fiscal cliff. liz: the highest of the session of the last hours of trading, what does that tell us about the next couple of days? >> traders have con
page of the business section in "the new york times," front page of the "wall street journal," blowing it out of proportion? >> our last report had something like 100 million users of instagram. anything that affects instagram touches a lot of people. it is still very popular. sure there is some loss of users near term after they detach themselves from twitter, but ultimately this is a business. investors should be focused on the fact facebook is trying to find ways to monetize, but they are smart, they will not jeopardize the user experience, they're better than that. they know if users have a problem with something, they will fix that. they have done these things in the past. user policies have evolved over time and will continue to evolve. important thing is they reacted very quickly, they did not wait for a week or 10 days for this to get a life of its own. it's still good, but ultimately one thing that caught my attention was the response that they will not be selling photos. their intention is if you are a business and you want to be able to use some of the data from instagram, w
spending. gerri: i have to ask you this question. people talk to me about this all the me in new york city. they say higher taxes are grover norquist fault. he has not come to the table or been willing to negotiate. he is the person who forced members of the house of representatives to say no more taxes. what do you say? >> first of all, as you know, from congress to the senate and people in his or her state -- this pledge is protecting american people through tax increases. we haven't had a republican republican vote for a tax increase in 22 years. that has really slowed down the growth of government from what it would've been otherwise. no obama comes in and wants to spend more and raise taxes. republicans are saying no. we would have a problem if obama hadn't increased the budget by a trillion dollars more a year. gerri: let's face it, whether you're talking about stimulus spending, obamacare, that's3 going to go through the roof, the things that you're going to pay for all this with higher taxes is lunacy, to say the least. on that note, we're going to have to leave it there. thank you
an exchange like the nasdaq or the new york stock exchange tries to make any kind of merger or acquisition, it's usually rejected lately. >> well, i think what we've looked at is bringing together canada's financial markets under one institution so we can really have a very strong market. now, there are competitors. we have alternative trading systems that are owned and operated by other entities, and a low barrier to entry for new organizations to come to canada. but the reality is that we think we offer the most comprehensive services. david: let's talk about how our regulations might affect your companies. dodd-frank is going to have worldwide implications. >> well, dodd-frank's really important to us. in fact, i've spent personally a lot of time in washington over the last year as dodd-frank -- david: did they accept your input? >> for sure. the cftc, in particular. it impacts us in important ways because as our institutions execute interest rate swaps, they're going to have to be bilaterally cleared. or multilaterally cleared oz opposed to -- as opposed to bilaterally. and that's importan
them. and author of "the new york times" wrote a book about the tea party. "the new york times" is not super conservative, and she found what you said. these are not people who are racist. they are not uneducated people that the media likes of retirement. i think most of them have good intentions. the issue is if you're going to tell your party it is my way or the highway, and if you deviate from this at all, we will come after you. that is not constructive. it just isn't going to work. what you have to do is try to move them and get them to the right place. charles: i guess only the president can say it is my way or the highway. kiersten, thank you so much. the former dec commissioner cochairing. he is going gangham style. >> stop getting on youtube so you can see gangham style. charles: more from simpson later. but first, the founder of mcafee on the run and we are trying to track him down. the most vocal of sandy's victims is blasting back. find out why coming up next. >> we are the people that are the middle class. ♪ ♪ [ male announcer ] it started long ago. the joy of
.m. here in new york city. that wraps it right now. we're going to go back to our programming. we are talking cometely off-the-cuff, but we know will not be at 250. i think carrie reed has problems from new york like dianne feinstein of california, and 250 will be a big pill to allow. this is a fiscal cliff that we can have 50 days, 60 days down the road. it does not fix the problem if you will have these taxes on $250,000 and above. as rich edson said, this is going to be another deadline in congress has to have. i think everyone needs to get comfortable with the fact that we are going to have these kinds of stopgap last-second deals. gerri: okay, let's get tyler in here too, are republican strategist. is there any common ground can be found here? i mean, this seems to me like a last-ditch effort. let me tell you what it when it was announced today that there was going to be a meeting at 3:00 o'clock from expectations went through the roof. i think people thought something really big was going to happen at the end of the day. the president is saying that he is modestly optimistic
to figure out things mechanically. jack was a huge new york giants fan. he looked up to victor cruz. senators from connecticut calling for a ban on assault weapons. president obama saying last night at a memorial service, more needs to be done to protect our children. classes set to resume tomorrow in new towns other schools. no word on when the elementary will go back to school. those are your headlines. melissa: so heartbreaking. the companies board discusses two competing buyout proposals. charlie gasparino joins us with the latest on this. the board meeting, began at 8:00 a.m. charlie: it is still going on. virtue, they are kind of unclear. they claimed it is all cash. we will get into some of the controversies of that in a minute. my capital executives have spent the last week, the key prime piece of real estate there, they were shopping all week. just give me one second and we will explain what it means. a major knight investor tells us the firm could stay independent. the real question is, why do we care so much about this story. if you buy something through a td ameritrade o
to tell you, it's still the highest price for gas ever at this time of year. new york still the highest in the continental u.s., 3.78 in new york, that's the average and missouri the lowest, $3.01 a share and missouri is the only city, only place, rather, where we found major cities with the average price under $3. again, the star is st. louis, at 298. let's get back to apple, losing its cool, maybe. and mark is still with us, the editor in chief of laptop magazine. all right. i want to talk about-- let's see, this is the microsoft surface tablet, all right. >> yes. stuart: now, is this a threat to apple's dominance of the tablet market and apple's dominance of cool? do you like this thing? >> in the short-term i don't think it's a threat, but there are some things that surface has especially for workers that the ipad doesn't, one of the things off the bat you'll notice this has a smart cover, sort of like the ipad, but this one has a deboard built in and you see on the back, this little kick stand in the design, lets you prop it it up. lets you use it as a mini laptop. stuart: do you g
much with nothing to do with sandy. adam: let's reverse it. let's go to new york city. i saw better itry tunnel fill with water. mta swallowed 4 to $5 billion unexpected cost to get trains up and running. the money has to come from somewhere. it is appropriate in a disaster like this to turn to the federal government. are these things covered in this bill or is that money squandered? >> there is money for the federal transit administration which would help mta. there is money in here for the disaster relief fund which will help people in is disaster and future disasters. this will help the flood program because borrowing will have to increase by billions of dollars with this underwater program. there are things that are important and critical and legitimate. the problem there is so much other garbage thrown in here and things n necessary, that it just feeds the voter cynicism as you're talking about. adam: with 40 seconds left does it pass? i never known a bill congress didn't like that they put money into the pockets they could disperse. >> there is good chance it will pass the sen
. yes, it will be very cold. everyone really needs to bundle up. it is 30 degrees in new york city. we could be looking at windchill temperatures at 20 degrees. we are talking about snow today across portions of kansas, missouri and even into illinois and eventually received portions of ohio. the snow can still be coming down even during the midnight hour tonight. you will need umbrellas. you are talking rain across western portions of kentucky and that would be freezing rain into some spots. that is very dangerous. otherwise across parts of oklahoma and southern oklahoma, it is just plain old rain across many of those areas. for tonight, at midnight, there were fireworks will be going off. grab a clear umbrella so you can actually see. your current temperature is 11 in minneapolis. 32 degrees right now in new york city. of course, in the northeast, you factor in that wind and it feels colder. 12 degrees is what it feels like right now in burlington, vermont. dagen: because it is new year's eve, that dress looks great. >> why because it is new year's eve? dagen: you are right. i would
for stocks now. nicole petallides is at the new york stock exchange. nicole: the dow is down about ten points. the s&p pulling back one quarter of 1%. a lot of the retailers loved like the biggest losers. 500 stocks are comprised and represent oriole to autos to airlines. the sector that was really lagging where the retailers. oil has been moving to the upside. there is a lot going on with that. and oil spike of two dollars. now, let's take a look at technology. we do see some of the tech stocks doing pretty well. hewlett-packard and intel have been among the real losers for the year 2012 on the dow. today, you continue to see this trend which is a little better. back to you. dagen: thank you. the senate returning to washington tomorrow. the president, as well. five days left to revert the fiscal cliff. now that plan b is that, will there be a plan c or f for failing? peter: president obama expecting to arrive in d.c. tomorrow. white house says they will let us know if there is any update in the talks for congressional leadership. the leader's office is me no news to report. as of now, we are
really to blame? a new survey says no. stocks a little bit higher. as coach before the new york stock exchange and check in with nicole watching apple after cher started to downgrade today. nicole: that is right. apple sold off, in the red and move higher. they have a buy rating, jefferies cut the price target on apple. the new price target is $800 from $900. they came down $100 but certainly plenty of upside potential. right now apple at $5.29 and change. some nice room to grow. talking about the pressure on margins apple faces obviously intense competition but also the fact they will be launching a new iphone app coming along, all the thing these things we'rg about for next year and those to make it into their margins to alternately that is whether lord their price target. mcdonald's, same-store sales moved higher and beat the analyst expectations of 2.4%, that obviously outpaced october which is a losing month, first losing month in nine years for mcdonald's, but they're doing well for breakfast and in europe. lori: thank you as always. melissa: president obama had to try to seekin
to the floor. new york stock exchange. lauren is there watching it. any indication from the investors and traders about a deal? are they telling you if they have an inside scoop? >> they do not have an inside scoop, but there's con play sen sigh, and stocks stuck in the range, down half a percent for the broader market, down for five days in a row waiting, two hours from now, to hear somebody in washington say something about fiscal cliff, and then we'll move on that news, but traders are saying if we get a deal done, we'll see the market take off. we have not seen a santa claus rally this december, unfortunately, and, in fact, the nasdaq lower. stocks lower, by the way. here's the new york stock exchange, three stocks trading down for every one trading up. another thing trading up a the vix index. it's 20.18. the vix has traded below the two decade average, and that's not happened this month. we broke that trend. we have an uptick in the vix now. adam, back to you. adam: the question of the day, are we closing in on the deadline and potential plan to avert the fiscal cliff, about thi
's go to nicole petallides at new york stock exchange. >> the market under pressure hovering around 13,000 where we're sitting right now. othello's of the day. we have recouped some of the losses but we're still down over 100 points. every single component is a red. johnson & johnson. pfizer. aluminum. and materials. jpmorgan that hit a 52 week high it is now a loser. with the vix index look at the levels the volatility index it is a showing and the indication there is nervousness with washington. what will lawmakers do with a decision? this is the highest point* of a one-year term. the highest point* is from july. this is the environment right now. it is a holiday but we will watch each sector under pressure. lori: more news then redo this time. tracy: fiscal clef finger-pointing underway in washington. harry reid says they're headed over the cliff. it is really about senator harry reid and mitch mcconnell? >> to develop the political staring contest democrats say republicans need to move and around rego. the president arrived this morning from hawaii and so with the top democrats and
, lauren at the new york stock exchange. stocks down, but it could be worse, lauren. >> it could be worse. at one point, after 109 points, and now down 59 on the second to last trading day of the year. the nasdaq, believe it or not, is the winner today, down by just about .16%, doing the best of the three major averages. i point that out because for the month of december, the nasdaq is the only major average negative. it's interesting to know we started the year with nasdaq at 26.0 # 5, and now at 29.81, we came a long way. a good year for tech. the vix up above 20. fear of the fiscal cliff and traders saying, all right, we have this idea of a deal getting done baked into the markets, but maybe that's going to unravel a little bit. barnes and noble share, stock up more than 6 #% as i speak. the news is both good and bad. bad news first. they say the holiday period and sales trends will not meet expectations, and the reason for that is the nook business at the same time peerson investing a lot of money in the nook business so two pieces of news affecting the stock today, but it is a winner
.s. regulators and about a dozen banks. sources tell the "new york times" that 14 banks include tank of america, wells fargo and jpmorgan chase. we are taking a look at those stocks. back to you. ashley: diane, thank you very much. well, the question is, is the unthinkable about to become reality for back now, it is up to this man. on the right. vice president joe biden called in to help with the debt negotiations that we think are going nowhere. there are always rumors and whispers in the hallway. let's go to rich for the very latest on the progress. rich: there is progress, ashley. they are working on a tentative agreement right now. they can always get choked up on the finer points. this is what they are working with right now. it basically extends all tax cuts for people under $400,000 a year. it permanently patches -- it make sure doctors treating medicare patients do not get a pay cut. a one-year extension of unemployment benefits. on top of all of this, there are some discussions on how to deal with the sequester. they amount to about $8 trillion over the next decade. $94 billion total i
-- dagen: this is the 24th state. >> it will never happen in new york or a place like new jersey. they do not have the legislatures that will pass this. let's be realistic about it. all you have to do is look at a map of america and you would understand that. there are limits as to how far it will spread. we have a really historic battle among the states. it is a battle over tax rates. for all of this talk about tax increases, you have places like kansas, wisconsin, louisiana, cutting taxes. because business investment is so stingy right now, this battle is really historic. i think we will see more winners in the states. dagen: right to work states over the last decade have grown faster. >> it is and important component. it will be more so, i think, going forward. the combination, state tax rates in federal tax rates, they are really getting onerous. connell: as peter barnes pointed out, how involved, or will he get involved in this at all going forward? >> well, your guess is as good as mine. here is the thing, you know, of all places that you can go in america, discussing the fiscal cli
't see the slippery slope. vicky is right. public transportation systems, subways in new york, recent incident in new york, it's kind of nice to be able to catch people that do that. >> you have to balance the pros and cons. which wins out? >> i'm going for a piece of that christmas that john got for himself. steve forbes is right. we're overdoing it. we're going to become the instead of solving the problem. we need to chill out. >> i know, you painted a scenario of silliness, somebody staring at every action or word on the bus. when you are bothered, wondering who is listening in and if they are listening in? >> i'm glad someone is listening. what am i doing on bus. here is why -- >> how much liberty are you willing to give up to be secure. >> i know the story... in the bay area. they were able to track down the other kids who beat him up because there was a camera in that bus. to me that is powerful story. >> go ahead. >> i mean how much liberty are we willing to give up to be secure? this is just so dangerous to rely on people to snoop on us. >> then don't take public transportatio
transportation systems, subways in new york, recent incident in new york, it's kind of nice to be able to catch people that do that. >> you have to balance the pros and cons. which wins out? >> i'm going for a piece of that christmas that john got for himself. steve forbes is right. we're overdoing it. we're going to become the instead of solving the problem. we need to chill out. >> i know, you painted a scenario of silliness, somebody staring at every action or word on the bus. when you are bothered, wondering who is listening in and if they are listening in? >> i'm glad someone is listening. what am i doing on bus. here is why -- >> how much liberty are you willing to give up to be secure. >> i know the story... in the bay area. they were able to track down the other kids who beat him up because there was a camera in that bus. to me that is powerful story. >> go ahead. >> i mean how much liberty are we willing to give up to be secure? this is just so dangerous to rely on people to snoop on us. >> then don't take public transportation. that is the dividing line. we know that public transporta
on the cliff. our very own lou dobbs is not buying it. adam: our very own nicole petallides is on the new york stock exchange. where do we stand right now. right now the dow jones industrials are down nearly 60 points. the nasdaq composite is down three quarters of 1%. not a great day here. there are concerns about the fiscal cliff. we just have the deadline timeclock up again. we know that we have very accommodative fed's. let's take a look at some european markets. finance ministers have been discussing things including giving them more power. these are some of the things that they are looking at closely. we had seen europe really pushing some new recent highs. that is something that pushed us along in the last couple days. lori: a showdown in washington. sparring over a dead deal. it does not look like either party is ready to budge. where are we now, rich we are still in the middle of a work in progress. that could be a little bit of an understatement. democrats say they want a commitment from her republicans. basically, we are in the same spot. here we are at the 11th hour and the preside
's look to the floor show. traders at new york stock exchange, the cme group and the nymex. my, oh, my. let's begin with ben willis at the newscy. -- nyse. we had some bias coming in the last half hour. >> as long as washington keeps santa claus hostage we'll continue to see this. "the santa clause" rally hasn't appeared because it has been over this fiscal cliff. kudos on fox business for the headline of story coming out of washington congress will meet on sunday this coming weekend that. is definitely took us off our low. we had a major rally on that. 10 handles on the s.o.p.s we watched down here. it was a painful trade there for a couple of hours. ashley: ben, very quickly up until now the market hasn't really reacted to the fiscal cliff but seems today it really sort of kicked in. did the market get it wrong up to this point? >> the fear is we may have got it wrong. market as i've been saying for a while believes in fact we will have a resolution so we will not go over the cliff. the recent commentary maybe has been there will be a patch so we'll get it done by early january. the
donalds. unions want fast workers paid more. the new "new york times" put thn the front page saying mcdonalds pays her $8, but she deserves $15 #. civil ights groups, union demands a higher living wage, and they may get it. [chanting] >> the big bad union like the big bad wolf like the government use force. if they want a $15 minimum, that's what employers must pay. that sounds good to people. everyone will get a raise. the problem comes from what is not seen. i can interview the guy who got a raise. i can't interview the guy who didn't open a mcdonalds because work rules were too onerous or those never offered a job because high union paid skills protected him out of a job. we don't know who those people are. they are the unscene
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